Common use of PENSIONS AND RETIREMENT Clause in Contracts

PENSIONS AND RETIREMENT. to clause each full time in the "Permanent class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving will be approximatelyone hundred per cent of the after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. to clause each full time in the "Permanent class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the The Ontario Municipal Employees Retirement System Plan is created by applicable the Ontario Retirement Act, as amended from time to any member of time, and the ServiceRegulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from and those permanent members enrolled in the Toronto Pension Plan (By-law No. 15-92) who transferred to part time member shall not be applicable excluded from the operation of this clause In the event that the Toronto Police Benefit Fund (By-law [the the Toronto Pension Plan (By-law 15-92) [the become part of members covered by this agreement receiving pensions from the or the may elect to such membercease to participate in under clause if continued participation would disentitle them from receiving pension payments under the Plan. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated Understandingdated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. Subject to clause each full full-time member in the "Permanent Service" class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of Police Service of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. The trustees Trustees will continue to have the right to adjust the amount depending on the circumstances of circumstancesof the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. to clause each full time in the "Permanent class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the The Ontario Municipal Employees Retirement System Plan is created by applicable the Ontario Municipal Retirement System Act, as amended from time to any member of time, and the ServiceRegulations thereunder, as amended from time to time, shall apply to all covered by this agreement save and except those receiving pensions from and those permanent members enrolled in the Toronto Pension Plan (By-law No. 15-92) who transferred to part time member shall not be applicable excluded from the operation of this clause In the event that the Toronto Police Benefit Fund (By-law [the the Toronto Pension Plan (By-law 15-92) [the become part of members covered by this agreement receiving pensions from the or the may elect to such membercease to participate in under clause if continued participation would disentitle them receiving pension payments under the Plan. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. Subject to clause each full time member in the "“Permanent Service” class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "“to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers"”. It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's ’s death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. to clause each full time in the "Permanent class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the The Ontario Municipal Employees Retirement System Plan is created by applicable the Ontario Retirement Act, as amended from time to any member of time, and the ServiceRegulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from and those permanent members enrolled in the Toronto Pension Plan By-law No. who transferred to part time member shall not be applicable excluded from the operation of this clause In the event that the Toronto Police Benefit Fund (By-law 181-81) [the the Toronto Pension Plan (By-law 15-92) [the become part of members covered by this agreement receiving pensions from the or the may elect to such membercease to participate in under clause if continued participation would disentitle them from receiving pension payments under the Plan. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. Subject to clause each full full-time member in the "“Permanent Service” class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "“to provide pensions for employees, their spouses and children, of the Police Service of the City of Toronto and other participating employers"”. It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's ’s death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan the Semi-Private and Comprehensive Medical Plans and the Dental Plan. The trustees Trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. to clause each full time in the "Permanent class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the The Ontario Municipal Employees Retirement System Plan is created by applicable the Ontario Retirement Act, as amended time to any member of time, and the ServiceRegulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from and those permanent members enrolled in the Toronto Pension Plan By-law No. who transferred to part time member shall not be applicable excluded the operation of this clause In the event that the Toronto Police Benefit Fund (By-law [the and/or the Toronto Pension Plan (By-law 15-92) [the become part of members covered by this agreement receiving pensions from the or the may elect to such membercease to participate in under clause if continued participation would disentitle them from receiving pension payments under the Plan. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan if any, the and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. to clause each full time in the "Permanent class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the The Ontario Municipal Employees Retirement System Plan is created by applicable the Retirement Act, as amended from time to any member of time, and the ServiceRegulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions and those permanent members enrolled the Toronto Pension Plan (By-law No. 15-92) who transferred to part time member shall not be applicable excluded from the operation of this clause In the event that the Toronto Police Benefit Fund (By-law 181-81) [the and/or the Toronto Pension Plan (By-law 15-92) [the become part of members covered by this agreement receiving pensions from the or the may elect to such membercease to participate in under clause if continued participation would disentitle them from receiving pension payments under the Plan. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan if any, the and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.